Insider Buying: Alpine Income Property Trust, Inc. (NYSE:PINE) CEO Purchases 3,500 Shares of Stock

Key Points

• CEO John P. Albright acquired 3,500 shares of Alpine Income Property Trust (NYSE:PINE) at an average cost of $14.20, bringing his total ownership to 11,444 shares, reflecting a 44.06% increase in his position.
• The company recently announced a quarterly dividend of $0.285 per share, resulting in an annualized dividend yield of 8.1%, despite a significantly negative dividend payout ratio.
• Alpine Income Property Trust has seen institutional interest, with over 60% of shares owned by institutional investors, and the stock currently has a consensus rating of "Moderate Buy" with various price targets from analysts.

Alpine Income Property Trust, Inc. (NYSE:PINE - Get Free Report) CEO John P. Albright acquired 3,500 shares of Alpine Income Property Trust stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average price of $14.20 per share, for a total transaction of $49,700.00. Following the transaction, the chief executive officer directly owned 11,444 shares in the company, valued at $162,504.80. The trade was a 44.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Alpine Income Property Trust Trading Up 0.7%

NYSE PINE traded up $0.11 during mid-day trading on Wednesday, reaching $14.60. 12,377 shares of the stock were exchanged, compared to its average volume of 83,759. The stock has a market cap of $206.67 million, a P/E ratio of -292.00, a P/E/G ratio of 1.35 and a beta of 0.63. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.85 and a quick ratio of 0.85. Alpine Income Property Trust, Inc. has a one year low of $13.95 and a one year high of $19.42. The stock has a 50 day simple moving average of $14.67 and a 200-day simple moving average of $15.55.

Alpine Income Property Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 12th were given a dividend of $0.285 per share. The ex-dividend date was Thursday, June 12th. This represents a $1.14 annualized dividend and a dividend yield of 7.8%. Alpine Income Property Trust's dividend payout ratio is presently -2,280.00%.

Institutional Investors Weigh In On Alpine Income Property Trust

Several large investors have recently added to or reduced their stakes in PINE. Deutsche Bank AG lifted its stake in Alpine Income Property Trust by 1.6% in the first quarter. Deutsche Bank AG now owns 44,161 shares of the company's stock valued at $738,000 after buying an additional 703 shares during the period. Rhumbline Advisers increased its stake in shares of Alpine Income Property Trust by 3.7% in the 1st quarter. Rhumbline Advisers now owns 20,652 shares of the company's stock valued at $345,000 after acquiring an additional 736 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its stake in Alpine Income Property Trust by 16.6% during the first quarter. Resona Asset Management Co. Ltd. now owns 5,380 shares of the company's stock worth $89,000 after acquiring an additional 765 shares in the last quarter. Jump Financial LLC boosted its stake in Alpine Income Property Trust by 22.6% during the fourth quarter. Jump Financial LLC now owns 12,752 shares of the company's stock worth $214,000 after acquiring an additional 2,348 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Alpine Income Property Trust in the first quarter worth $42,000. Institutional investors and hedge funds own 60.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PINE. UBS Group reduced their target price on shares of Alpine Income Property Trust from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Alliance Global Partners reiterated a "buy" rating on shares of Alpine Income Property Trust in a report on Friday, July 25th. Jones Trading reduced their price objective on shares of Alpine Income Property Trust from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Stifel Nicolaus lowered their target price on Alpine Income Property Trust from $18.50 to $17.50 and set a "buy" rating for the company in a research report on Friday, July 25th. Finally, Industrial Alliance Securities set a $19.00 target price on Alpine Income Property Trust in a report on Friday, April 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Alpine Income Property Trust currently has a consensus rating of "Moderate Buy" and an average target price of $18.50.

Alpine Income Property Trust Company Profile

Alpine Income Property Trust, Inc NYSE: PINE is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased properties that are predominately leased to high-quality publicly traded and credit-rated tenants.